> (PARAMETRIC)(PMTC) Parametric Technology Corporation Third Quarter
> Be Below Expectations
> (Business Wire; 07/01/98)
> WALTHAM, Mass.--(BUSINESS WIRE)--July 1, 1998--Parametric Technology
>Corporation (NASDAQ:PMTC) today announced that, based on current
>information, it expects results for the third quarter ending July 4, 1998
>to be below analysts' expectations. The company expects to report revenue
>approximately 15% below current analyst estimates, which range from
>$292-$300 million. The anticipated revenue shortfall is expected to
>translate into diluted earnings per share below the consensus analysts'
>estimate of $0.26. Actual results for the quarter will depend upon final
>shipments, which for the company are heavily back-end loaded, and,
>accordingly, the results may vary from the current estimates.
>The company is also cautious about the business outlook for the balance of
>fiscal 1998, and therefore anticipates that fourth quarter revenue will be
>below analysts' current estimates as well. With the outlook uncertain over
>the next several quarters, the company said it is approaching fiscal 1999
>full-year assumptions cautiously.
>Steven C. Walske, chairman and chief executive officer of Parametric
>Technology stated: "We are clearly disappointed in these expected results
>and will be carefully analyzing the final numbers. At this point, it seems
>clear that the shortfall is due in part to transitional issues from two
>major sales force initiatives we have underway: the introduction of our
>new Windchill enterprise product data management technology and our shift
>in focus to providing increased support and attention to our major
>accounts. Both initiatives offer long-term opportunities, but have created
>some short-term difficulties in our performance and execution. In
>addition, we continue to experience weakness in the Asian markets."
>The company plans to announce final results for the quarter on July 16, 1998.
>CONTACT: Parametric Technology Corp.
>John W. Hudson, 781/398-5561
>Kristen J. Reid, 781/398-5628
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